31st Mar 2015 10:12
31 March 2015
Japan Residential Investment Company Limited
(the "Company")
Posting of Annual Report & Accounts, Scrip Dividend Circular and Notice of AGM
Japan Residential Investment Company Limited (AIM: JRIC) is a closed-ended Guernsey incorporated company established to make and hold investments in residential property in Japan. The Company announces that the annual report & accounts of the Company for the year ended 30 November 2014 have today been posted to shareholders together with notice of the Company's 2015 annual general meeting - which will be held at Sarnia House, Le Truchot, St. Peter Port, Guernsey, GY1 4NA on 19 May 2015 at 10:00 a.m.
As announced on 13 March 2015, the Company is offering a scrip dividend alternative to the interim cash dividend of 1.8 pence per ordinary share (in respect of the six months ended 30 November 2014) under which shareholders on the register on 27 March 2015 may elect to receive new ordinary shares in lieu of the cash dividend. The price of a new ordinary share to be issued under the scrip dividend alternative will be calculated as the higher of (i) the prevailing net asset value per ordinary share; and (ii) the average of the Company's closing middle market price of an ordinary share for the five consecutive dealing days commencing on the ex-dividend date of 26 March 2015. The reference price of the scrip ordinary shares in respect of the interim dividend will be calculated and published on 2 April 2015.
A circular describing the scrip dividend alternative has today been posted to shareholders together with a form of election. Shareholders who wish to receive all or part of the interim dividend by way of ordinary shares in the Company should complete and return the form of election that will be provided to them with the circular by 5.00pm on 15 April 2015.
The Annual Report & Accounts, the scrip dividend circular and the notice of annual general meeting are available on the Company's website at www.jricl.com.
The expected timetable for the payment of the interim dividend is set out below:
Announcement of reference price for the scrip dividend
| 2 April 2015 |
Final date for receipt by the Receiving Agent of forms of election
| 5 p.m. on 15 April 2015 |
Posting of cheques, tax vouchers and certificates
| 28 April 2015 |
Dividend payment date and CREST payment instructions released
| 29 April 2015 |
Enquiries
KK Halifax Management Limited Manager
| Edward Barrow | +65 6593 8904 |
KK Halifax Asset Management Investment Adviser
| Alec Menikoff | +81 (0)3 5563 8771 |
Smith & Williamson Corporate Finance Limited Nominated Adviser
| Azhic Basirov David Jones | +44 (0)20 7131 4000 |
Jefferies Hoare Govett Joint Broker
| Sara Hale Max Jones | +44 (0)20 7029 8000 |
Liberum Capital Limited Joint Broker
| Richard Bootle | +44 (0)20 3100 2222 |
Related Shares:
JRIC.L